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Sainbayar
Mr. Sainbayar, 38 years old, lives with his wife and children in Kherlen, the easternmost town of Mongolia. He and his wife have been making and selling cookies to the local people since 2007 and managed to secure lot of customers. His cookie factory has been damaged due to old age and harsh climate. So he is requesting a loan of 3,000,000 MNT to purchase building and insulation materials in order to repair the factory roof and walls. The materials he needs are bricks, shingles, cement and fiberglass. After repairing and insulating the cookie factory, he won't have to worry about storage. Also, the renovated factory has a positive impact on the environment because the amount of coal needed for heating will be decreased and less pollutants will be released into the air.

The borrower is a very hardworking individual who strives for a better future.

Additional Information

More information about this loan

This loan is part of Credit Mongol's green loan program,  which helps clients to gain access to electricity through solar panel kits, as well as other products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

About Credit Mongol

Credit Mongol is the largest non-banking financial institution (NBFI) in Mongolia. Its mission is to contribute to the prosperity of Mongolians by providing high-quality, affordable and varied financial services to micro-entrepreneurs and small-to-medium-sized businesses. It prioritizes serving remote, rural populations that have typically lacked access to credit and other financial services. Uniquely, it offers solar panel loans to nomadic herders, most of whom live without electricity.

Tags

About Mongolia

  • $2,175
    Average annual income
  • 20
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,520.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,975 helped Sainbayar to renovate his cookie factory.
36% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 10, 2013
Listed
Aug 16, 2013
Currency Exchange Loss:
Possible